Close | X
Saturday, May 30, 2020 7:46:09 AM EDT




Industrial Production
Briefing.com Updated 15-May-20 09:50AM ET

Industrial production declined 11.2% m/m in April (Briefing.com consensus -12.1%), which was the largest monthly drop in the 101-year history of the index.

The capacity utilization rate fell from 73.2% to 64.9% (Briefing.com consensus 64.0%), which is 14.9 percentage points below its long-run average and a record-low in a series that dates back to 1967.

Manufacturing output declined 13.7% -- the biggest drop on record. The index for durable manufacturing dropped 19.3%, with the shutdown of motor vehicle assembly plants having a huge impact there.

The seasonally adjusted annual rate of motor vehicle assemblies was just 0.18 million versus 7.18 million in March and 11.37 million in February.

Mining output declined 6.1%.

Utilities output declined 0.9%.

The key takeaway from the report is that it is a reflection of how industrial production cratered amid shutdown orders designed to contain the spread of COVID-19. On a yr/yr basis, industrial production was down 15.0%.
 
APRMARFEBJANDEC
Industrial Production
Total Index-11.2%4.5%0.1%-0.5%-0.4%
Manufacturing-13.7%-5.5%0.0%-0.1%0.2%
Utilities-0.9%-1.9%3.6%-4.7%-5.7%
Mining-6.1%-1.1%-1.4%0.8%0.9%
Capacity Utilization
Total Industry64.9%73.2%76.7%76.7%77.2%
Manufacturing61.1%70.8%75.0%75.1%75.2%